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Post by psychecc on Oct 22, 2008 15:49:58 GMT -6
Some interesting comments by U.S. "experts" made in Hong Kong. I find it interesting that U.S. citizens often have to resort to news made or reported in foreign countries to get the real story. I've been listening, and I haven't heard anyone in the Treasury suggest that the hoped for recovery wouldn't come until "late 2009." Personally, I think that's way too optimistic, but I still wish they'd say it here first. Link to full article follows. Treasury Sees US Economic Recovery in Late 2009 Reuters | 22 Oct 2008 | 04:35 AM ET U.S. Treasury Undersecretary David McCormick said on Wednesday the U.S. economy is in for a challenging few quarters but could start to recover late next year.
"The coming quarters will be very challenging," McCormick told a lunch in Hong Kong.
He said, however, that the U.S. economy was resilient despite challenges posed by turmoil in the financial sector.
"Our hope is that (the U.S. economy) will turn upward toward the end of 2009," he said..... www.cnbc.com/id/27316652/
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Post by unlawflcombatnt on Oct 22, 2008 20:48:49 GMT -6
"Glenn Hubbard, a former senior economic adviser to U.S. President George Bush who was also in Hong Kong on Wednesday, said....As the U.S. housing market was the root of the economic and financial turmoil, Hubbard said the U.S. government should buy negative equity mortgages from the private sector and fund the mortgage market to restore mortgage rates to levels of around 5%.
That could push up home prices by 10% in the next year, he said."
Hubbard is another Bush's idiot-ologues who ought to be deported to another country--so he could wreak havoc somewhere besides the United States. He and Alan Greedspan could play the role of economic masters-of-disaster for any other country that would like to take them in.
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